US - SEC Proposes a Rule Amendment for T+2 Settlement Cycle

On 22 March 2017, the Securities and Exchange Commission (SEC) adopted amended Rule which shortens the standard settlement cycle for most broker-dealer securities transactions by one business day.

On 22 March 2017, the Securities and Exchange Commission (SEC) adopted amended Rule which shortens the standard settlement cycle for most broker-dealer securities transactions by one business day. At present, the standard settlement cycle for these transactions is three business days (T+3), while the amended rule introduces a shorter settlement cycle of two business days (T+2). The amended rule will enter into force on 5 September 2017. As of this date, broker-dealers will have to comply with the amended rule by not performing a transaction that provides for settlement later than T+2, unless otherwise expressly agreed to by the parties at the time of the transaction. The new rule concerns transactions for stocks, bonds, municipal securities, exchange-traded funds, certain mutual funds, and limited partnerships that trade on an exchange.

US - Adoption of rules about better Information from Brokers on Orders Handling
On 2 November 2018, the Securities and Exchange Commission announced that it has adopted amendments that will require...

National news

On 2 November 2018, the Securities and Exchange Commission announced that it has adopted amendments that will require broker-dealers to disclose to investors new and enhanced information about the way they handle investors’ orders.

DE - National prohibition of binary options for retail clients in Germany
On 29 November 2018, the German Federal Financial Supervisory Authority (BaFin) has published on Bafin's website the...

National news

On 29 November 2018, the German Federal Financial Supervisory Authority (BaFin) has published on Bafin's website the draft version of a general administrative act that will prohibit the marketing, distribution and sale of binary options to retail clients at a national level.

BE - Introduction of additional liquidity tools for Belgian public funds
On 5th November 2018, the Royal Decree dated 15th October 2018 has been published that aims to introduce additional...

National news

On 5th November 2018, the Royal Decree dated 15th October 2018 has been published that aims to introduce additional measures that Belgian public funds may, under certain specific conditions, apply as part of their liquidity management.

On 19 November 2018, the Central Bank of Ireland (CBI) published a discussion paper entitled “Outsourcing – Findings and Issues for Discussion” containing a summary of key issues and risks identified by the CBI.